Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 7.5% – Here’s Why

Eos Energy Enterprises, Inc. (NASDAQ:EOSE)’s stock price was down 7.5% during mid-day trading on Monday . The company traded as low as $2.45 and last traded at $2.47. Approximately 1,805,032 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 6,769,468 shares. The stock had previously closed at $2.67.

Wall Street Analyst Weigh In

EOSE has been the subject of several recent research reports. Stifel Nicolaus reissued a “buy” rating and set a $6.00 price target on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st. Roth Mkm cut their price objective on Eos Energy Enterprises from $4.50 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3.90.

Eos Energy Enterprises Stock Down 2.9 %

The business has a 50 day moving average of $2.86 and a two-hundred day moving average of $1.91.

Insiders Place Their Bets

In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total value of $78,600.00. Following the transaction, the director now directly owns 84,929 shares of the company’s stock, valued at $222,513.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Eos Energy Enterprises

Institutional investors have recently bought and sold shares of the business. FMR LLC raised its position in shares of Eos Energy Enterprises by 67.8% in the third quarter. FMR LLC now owns 58,651 shares of the company’s stock valued at $174,000 after buying an additional 23,706 shares in the last quarter. WESPAC Advisors LLC acquired a new position in Eos Energy Enterprises in the 3rd quarter valued at $32,000. Meridian Wealth Management LLC bought a new stake in shares of Eos Energy Enterprises during the 3rd quarter valued at $233,000. SCP Investment LP acquired a new stake in shares of Eos Energy Enterprises during the 3rd quarter worth $80,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in shares of Eos Energy Enterprises in the third quarter worth $174,000. Institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial (C&I) applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility.